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Market Economics Matching
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Market Economics Matching
📊 Part 1: Market Economics Terms Matching
Instructions: Draw lines to match each economic term on the left with its correct definition on the right.
Terms
● Market Equilibrium
● Government Intervention
● Supply
● Demand
● Price Ceiling
● Price Floor
● Subsidy
● Tax
● Consequences
Definitions
● The amount of a product or service available to consumers
● A compulsory financial charge imposed by the government on goods or services
● The point where supply equals demand, and the market is balanced
● A government-imposed limit on how low a price can be charged
● The desire and ability of consumers to purchase goods or services
● Financial assistance provided by the government to encourage production or consumption
● Actions taken by the government to influence or regulate markets
● A government-imposed limit on how high a price can be charged
● The outcomes or effects that result from market activities or policies
💭 Part 2: Application Questions
1. Give an example of government intervention in the New Zealand market:
2. What might be the consequences of setting a price ceiling on rental properties?
3. Explain how supply and demand work together to determine the price of concert tickets:
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